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Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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